5 Things to do Before Purchasing a Home

Purchasing a home can be a stressful time. Use these tips to ease the process.

Purchasing a home can be a stressful time. Use these tips to ease the process.


The decision to purchase a new home is a big one. One must consider the location, square footage, number of bedrooms, and more. You also have to find the right mortgage for your needs, and such a big decision should not be made alone. With the help of mortgage lenders at First Security State Bank, we are sure to find you a payment plan that works for your specific financial situation.
Below we have included several items to include on your home purchasing checklist. Take these into consideration when you go home shopping and you are sure to have a successful experience.
Start Saving – The sooner you start, the better. You will have to eventually pay for living expenses and make a down payment. Lenders like to know you aren’t living paycheck to paycheck and will be able to support yourself once the offer is made.
Improve Your Credit Score– A credit score of 720 and higher is considered a good credit score and will help you get the mortgage you need at a good interest rate. It is based on your credit use, length of credit history, new credit, types of credit used and other factors.
Evaluate Your Needs – Do you really need a four stall garage and granite counter tops? Prioritize what is important to you and don’t overspend on unnecessary items. Make a tangible list of items you need, a location you want, and what you can go without. Keep this in mind and don’t let the excitement of home shopping take over your decision making.
Get Preapproved – Before stepping foot into your new home, ensure your finances are in place. The preapproval process can be extensive, but is vital to helping you shop with confidence.
Don’t Rush – If you plan to move within the next five years, don’t rush into buying a home. Short-term home ownership is expensive and should generally be avoided. Take advantage of renting and save yourself the hassle.
As we mentioned, First Security State Bank can help your homeownership dreams come true by providing attractive mortgage options. Get in touch with one of our mortgage lenders today to see how we can help!